CNS - Cohen & Steers raises $305M in its Fund's IPO fund trading started today

Cohen & Steers (NYSE:CNS) announced the IPO of the Cohen & Steers Real Estate Opportunities and Income Fund wherein it raised $305M in proceeds through the issuance of 15.25M shares at $20/share. The Fund has granted the underwriters an option to purchase an additional 2.29M shares at the public offering price within 45 days of the date of prospectus, Feb.24. Assuming full exercise of the underwriters' option to purchase additional securities, which may or may not occur, proceeds could total $350.75M. Fund's shares commenced trading today on NYSE, under the symbol, "RLTY". The fund primary investment objective is high current income and secondary is capital appreciation; it plans to achieve objectives by investing at least 80% of its managed assets in a portfolio of real estate-related investments and preferred and other income securities. Offer is expected to close on Feb.28.

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Cohen & Steers raises $305M in its Fund's IPO, fund trading started today